Publicity-shy merchant bank BDT Capital nears $3.5bn for second buyout fund


20 dollarsThe secretive merchant bank led by former Goldman Sachs investment banker Byron Trott has pulled in close to $3.5bn for its second private equity fund.

BDT Capital hopes to gather up to $5.2bn according to a filing with the US Securities and Exchange Commission, which shows 123 LPs have backed the vehicle to date.

Trott launched BDT five years ago and gathered $2bn for its debut vehicle in 2011.

That fund was used to back businesses including City Beverage, Pilot Flying J and Colfax Corp.

BDT Capital Partners is quiet about its activities, but made a minority investment in US sportswear brand Tory Burch alongside General Atlantic.

Launched in February 2004, Tory Burch is carried in 83 stores across the US, Europe, Middle East, Latin America and Asia, and over 1,000 department and specialty stores.

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